Tender Offer | ₹10.00 Crores | Listed at BSE, NSE | Thu, Dec 15, 2022 - Wed, Dec 28, 2022
Orbit Exports Ltd. Buyback is a tender offer for the repurchase of up to 0.04 crore equity shares at a buyback price of ₹245 per share with a face value of ₹10 per share, aggregating to ₹10.00 crores.
The record date for determining eligible shareholders is Nov 18, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Dec 15, 2022 and closes on Dec 28, 2022, with the last date for receipt of tender forms being Dec 28, 2022.
The finalisation of buyback acceptance is expected on Jan 5, 2023, followed by settlement of bids on Jan 6, 2023.
Keynote Financial Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Keynote Capitals Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Orbit Exports Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Dec 15, 2022
Offer Closing Date
Wed, Dec 28, 2022
Buyback Price
₹245 per share
Record Date
November 18, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Share out of every 47 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 9 Equity Shares out of every 673 Fully paid-up Equity Shares held on the Record Date. |
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 150.23 | 26.26 | 174.09 | 146.7 | 16.08 |
| 31-Mar-21 | 73.07 | 2.38 | 176.86 | 149.48 | 14.37 |
| 31-Mar-22 | 131.17 | 17.8 | 194.59 | 167.21 | 39.17 |
| 30-Sep-22 | 109.14 | 22.23 | 217.88 | 190.5 | 39.4 |
| Amount in ₹ Crore | |||||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2022 | 186.75 | 155.35 | 164.80 |
| Sep-2022 | 171.80 | 146.90 | 157.90 |
| Aug-2022 | 158.60 | 114.65 | 140.09 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2022 | 185.85 | 155.50 | 164.79 |
| Sep-2022 | 172.25 | 147.75 | 158.12 |
| Aug-2022 | 158.40 | 115.05 | 140.02 |
The Buyback is being undertaken, inter-alia, for the following reasons:
Orbit Exports Ltd.
122, 2nd Floor, Mistry Bhavan,
Dinshaw Wachcha Road,
Churchgate, Mumbai – 400020,
Mumbai, Maharashtra, 400020
Lead Manager(s)
Registered Broker
The Orbit Exports Buyback opens on December 15, 2022, and closes on December 28, 2022.
Last date to be eligible to participate in buyback is November 16, 2022.
The Orbit Exports Buyback is a Tender Offer.
Orbit Exports Buyback Schedule
| Buyback Opening Date | December 15, 2022 |
| Buyback Closing Date | December 28, 2022 |
| Last Date for receipt of Tender Forms | December 28, 2022 |
| Finalisation of Buyback Acceptance | January 5, 2023 |
| Last Date for settlment of bids | January 6, 2023 |
| Last Date for Extinguishment of Shares | January 13, 2023 |
The Orbit Exports Buyback is being offered at Rs ₹245 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Share out of every 47 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 9 Equity Shares out of every 673 Fully paid-up Equity Shares held on the Record Date. |
The issue size of Orbit Exports Buyback is 4,08,163 equity shares at ₹245 per share aggregating up to ₹10.00 Crores.
The Buyback is being undertaken, inter-alia, for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Orbit Exports Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
